Our client, chiliZ , announced that Binance is investing in their new tokenization platform which focuses on esports and other sports industries. chiliZ blockchain platform tokenises voting rights to their supporters of esports and other sports entities. This concept was inspired by the “Socios” crowd-management which Real Madrid and FC Barcelona came up with.
The video gaming industry is worth $110 billion, which is surprisingly bigger than the global film and music industry. It is expected that the video gaming space will adopt blockchain services thus accessed by more than 300mm esports fans. It is apparent that millennials, nowadays are knowledgeable and have a keen interest in virtual currencies and have experienced trading in digital assets. In fact, both blockchain technology and esports will reach millennials which are acquainted with both emerging technologies.
The chiliZ platform will start with esports teams and leagues. However, Binance and chiliZ will eventually work with the sports industry. They are also planning to develop a fan-driven token ecosystem for traditional sports teams, hence scaling the concept of “Socios” around the world.
Binance involvement with chiliZ is to provide the sharing of technical knowledge, innovation and creativity. Furthermore, this collaboration will help chiliZ delivering its platform globally.
Alexandre Dreyfus, chiliZ CEO stated that “Binance’s significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision. I’m also excited that Binance is setting-up in Malta, where we will be able to share resources. Enabling a more strategic partnership.”
While Binance CEO & Founder Changpeng Zhao added “chiliZ is a creative way to embrace blockchain technology, aimed at building tools and services for mainstream adoption in industries that have a massive global growth rate. We are thrilled to support the team behind the project, and to help make them a success.”
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